A Product Buyer is responsible for selecting and purchasing products for retail or wholesale businesses. They ensure that the products meet market demands and align with the company's brand and financial objectives.
Key Responsibilities
Research and evaluate suppliers and products.
Negotiate prices and terms with suppliers.
Analyze market trends and consumer demand to inform purchasing decisions.
Maintain inventory levels while minimizing costs.
Collaborate with other departments like marketing and sales to align product offerings.
Top Skills for Success
Negotiation
Market Research
Inventory Management
Analytical Thinking
Career Progression
Can Lead To
Senior Buyer
Category Manager
Transition Opportunities
Product Manager
Supply Chain Manager
Common Skill Gaps
Often Missing Skills
Data AnalysisSupplier Relationship Management
Development SuggestionsConsider taking courses in data analysis and supplier management to enhance these skills.
Salary & Demand
Median Salary Range
Entry Level$40,000 - $50,000
Mid Level$50,000 - $70,000
Senior Level$70,000 - $100,000
Growth Trend
Steady demand, especially in retail and e-commerce sectors.
Companies Hiring
Major Employers
AmazonWalmartTarget
Industry Sectors
RetailE-commerceWholesale
Recommended Next Steps
1
Gain experience in retail or supply chain roles to understand market dynamics.
2
Develop negotiation and analytical skills through practical experience or training.
3
Stay updated on market trends and consumer preferences to make informed purchasing decisions.
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